KBC Group NV Increases Stock Position in Casey’s General Stores, Inc. $CASY

KBC Group NV boosted its position in shares of Casey’s General Stores, Inc. (NASDAQ:CASY) by 250.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,536 shares of the company’s stock after purchasing an additional 2,526 shares during the period. KBC Group NV’s holdings in Casey’s General Stores were worth $2,574,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Swiss National Bank lifted its holdings in Casey’s General Stores by 48.4% in the 1st quarter. Swiss National Bank now owns 108,767 shares of the company’s stock worth $79,167,000 after buying an additional 35,480 shares in the last quarter. World Equity Group Inc. grew its stake in shares of Casey’s General Stores by 102.2% during the first quarter. World Equity Group Inc. now owns 1,482 shares of the company’s stock valued at $1,080,000 after acquiring an additional 749 shares in the last quarter. Crescent Grove Advisors LLC acquired a new stake in shares of Casey’s General Stores during the first quarter valued at about $218,000. Cornerstone Planning Group LLC increased its position in shares of Casey’s General Stores by 33.3% during the first quarter. Cornerstone Planning Group LLC now owns 88 shares of the company’s stock worth $64,000 after acquiring an additional 22 shares during the last quarter. Finally, Modera Wealth Management LLC purchased a new stake in shares of Casey’s General Stores during the first quarter worth about $247,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Allison M. Wing sold 530 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $837.58, for a total value of $443,917.40. Following the transaction, the director directly owned 3,042 shares in the company, valued at approximately $2,547,918.36. This trade represents a 14.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the sale, the chief financial officer directly owned 29,677 shares of the company’s stock, valued at approximately $24,874,074.32. This represents a 16.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 30,243 shares of company stock valued at $24,421,877 over the last quarter. 0.54% of the stock is owned by company insiders.

Casey’s General Stores Stock Performance

Shares of CASY stock opened at $861.63 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 1.01. Casey’s General Stores, Inc. has a one year low of $490.00 and a one year high of $927.85. The company’s 50-day simple moving average is $821.67 and its 200-day simple moving average is $742.33. The stock has a market capitalization of $31.89 billion, a price-to-earnings ratio of 44.97, a PEG ratio of 2.62 and a beta of 0.62.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period in the previous year, the company earned $2.63 earnings per share. Casey’s General Stores’s quarterly revenue was up 14.5% on a year-over-year basis. Equities analysts anticipate that Casey’s General Stores, Inc. will post 21.14 earnings per share for the current fiscal year.

Casey’s General Stores Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Saturday, August 1st will be issued a $0.65 dividend. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. This represents a $2.60 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, July 31st. Casey’s General Stores’s dividend payout ratio is presently 11.90%.

Analysts Set New Price Targets

CASY has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their price target on Casey’s General Stores from $695.00 to $795.00 and gave the stock a “neutral” rating in a research note on Thursday, June 25th. William Blair began coverage on Casey’s General Stores in a research note on Wednesday, May 20th. They set an “outperform” rating for the company. Weiss Ratings downgraded Casey’s General Stores from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday. BNP Paribas Exane cut their target price on Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a research report on Thursday, June 25th. Finally, Royal Bank Of Canada increased their target price on Casey’s General Stores from $794.00 to $850.00 and gave the company a “sector perform” rating in a research note on Thursday, June 25th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $940.00.

Casey’s General Stores Profile

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.